The central banks of Canada and the USA are planning to introduce a digital currency in response to the growing interest in cryptotechnology. Crypto currencies are a thorn in the side of the banks as they undermine their financial authority as they reach more and more consumers. Therefore, banks want to jump on the bandwagon before they miss a global turnaround. The Bank of Canada and the Federal Reserve Bank of Dallas each plan to introduce their own digital currencies. The US and Canadian central banks see great potential in digital currencies compared to traditional fiat currencies. Now they also want a piece of the crypto-cake.